Hang Seng Index rises, Alibaba falls after warning of hit by coronavirus
- Jefferies reiterates 'buy' rating on Alibaba, boosts target price to HK$289
- Embattled Sa Sa rises after plan to cut jobs, slash salaries amid virus
Happy Friday, traders.
Alibaba reported strong December quarterly results, but warned of upheaval to consumer behavior by the coronavirus outbreak. The official death toll has risen to nearly 1,400 on the mainland and total cases approached 65,000.
-- Kathleen Magramo, Iris Ouyang and Deb Price in Hong Kong